RI home sales increase, median home prices rise in 2017

RI home sales increase, median home prices rise in 2017

Jan. 18, 2018

WARWICK, R.I. (AP) — Sales of single-family home in Rhode Island have increased for the fifth consecutive year, with the median house prices rising and homes selling faster.

The Rhode Island Association of Realtors said Thursday there were 11,282 single-family home sales in 2017, a 2 percent increase over the previous year. The median house price increased more than 6 percent, reaching $255,000.

The Realtors said the number of days homes sat on the market fell 21 percent in 2017 to 61 days.

Association President Joseph Luca says last year's market was difficult for buyers because many homes sold as soon as they were listed.

Condominium sales rose more than 12 percent year over year, while the median sales price of condos sold in 2017 rose almost 8 percent to $215,000.